Ionis Pharmaceuticals (NASDAQ:IONS) Sets New 12-Month Low – Time to Sell?

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) reached a new 52-week low during trading on Monday . The company traded as low as $44.20 and last traded at $44.8020, with a volume of 225422 shares changing hands. The stock had previously closed at $44.44.

Analyst Ratings Changes

A number of analysts have issued reports on IONS shares. TD Cowen reissued a “buy” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, September 8th. Barclays decreased their target price on Ionis Pharmaceuticals from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Guggenheim reduced their price target on shares of Ionis Pharmaceuticals from $89.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. BMO Capital Markets cut their target price on shares of Ionis Pharmaceuticals from $61.00 to $54.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company dropped their price target on shares of Ionis Pharmaceuticals from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Seventeen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.80.

Ionis Pharmaceuticals Price Performance

The company has a market capitalization of $7.42 billion, a PE ratio of -12.91 and a beta of 0.42. The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07. The stock has a fifty day simple moving average of $55.97 and a 200-day simple moving average of $68.31.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Eugene Schneider sold 26,000 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $81.05, for a total value of $2,107,300.00. Following the completion of the sale, the executive vice president directly owned 77,114 shares of the company’s stock, valued at approximately $6,250,089.70. The trade was a 25.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP C. Bennett sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $85.46, for a total value of $1,281,900.00. Following the transaction, the executive vice president directly owned 75,018 shares in the company, valued at approximately $6,411,038.28. This trade represents a 16.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 156,317 shares of company stock worth $12,656,566. Insiders own 1.81% of the company’s stock.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Capital World Investors grew its stake in shares of Ionis Pharmaceuticals by 41.2% in the 4th quarter. Capital World Investors now owns 17,961,299 shares of the company’s stock valued at $1,420,918,000 after purchasing an additional 5,238,571 shares during the last quarter. Franklin Resources Inc. grew its position in Ionis Pharmaceuticals by 19,941.6% in the 4th quarter. Franklin Resources Inc. now owns 1,321,345 shares of the company’s stock valued at $104,532,000 after buying an additional 1,314,752 shares during the last quarter. Baker BROS. Advisors LP increased its stake in Ionis Pharmaceuticals by 216.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,791,841 shares of the company’s stock valued at $141,753,000 after buying an additional 1,225,043 shares during the period. Alyeska Investment Group L.P. increased its stake in Ionis Pharmaceuticals by 199.7% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock valued at $112,427,000 after buying an additional 944,766 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth $62,718,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company that discovers and develops medicines using antisense technology, which is designed to target RNA and influence the production of disease-related proteins. The company focuses on neurological, cardiovascular, metabolic and other serious diseases for which there remains a significant unmet medical need.

Ionis has developed several approved therapies, including SPINRAZA (nusinersen) for spinal muscular atrophy, QALSODY (tofersen) for a form of amyotrophic lateral sclerosis, TEGSEDI (inotersen) for hereditary transthyretin-mediated amyloidosis and WAYLIVRA (volanesorsen) for familial chylomicronemia syndrome in certain markets.